Which of the Following Will Not Help Your Small Business

question 304

Multiple Choice

Which of the following will not help your small business succeed?

• A) Services you perform are easily replicated by larger companies, such as online banking.
• B) You provide a unique service that requires a significant amount of personal attention such as a service that provides in-home care for seniors.
• C) Investing in a franchise.
• D) Your product is not easily mass produced, like professional photography.

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Definitions:

No Personal Liability

A legal principle or clause that protects an individual's personal assets from being used to satisfy business or contractual debts and liabilities.

Personal Liability

The legal responsibility of an individual to bear the burden of debt or obligation from his/her actions, separate from the liability of a business entity or corporation.

Control of Business

Refers to the authority or power to manage the operations, decisions, and policies of a company or organization.

Split Profits

The distribution of earnings or gains between partners, stakeholders, or businesses according to agreed-upon percentages or criteria.